We live in a world of exponentially increasing technology advancements. Never in the history of mankind have so many such advancements emerged in parallel and in combination, carrying so much impact.
The phenomena are marked in time: The timing from what once seemed impossible to possible and functional can become extremely short – sometimes measured in just days or weeks. Ever heard the maxim that internet years are like dog years, where one in actual elapsed time equates to seven? Exponential advancement is the reason.
Some exponential advancements are now so predictable, such as the rate of growth of computing power, that companies have baked-in the expected advancements in their products. Similarly, it is fairly predictable that full genome sequencing today can be done for a few hundreds of dollars, as opposed to the thousands required in 2015, or the millions in 2006, or the billions for the first full sequence in 2003. The speed of wireless communications will soon multiply by at least 10X, and deep learning will continue to exponentially advance in capability in our near future. And all of this is happening in concert. As a result, it has become harder and harder to develop new companies based on any of these advancements alone.
The greatest opportunities for new venture breakthroughs come when we apply multiple exponentially growing advancements of these technologies together. Call this the “collision of exponential technologies.” This collision amplifies both power and possibility. It’s not the old business adage of 1+1=3. It’s 1+1=1000.